Atlassian (NASDAQ:TEAM) Price Target Increased to $283.00 by Analysts at Piper Sandler

Atlassian (NASDAQ:TEAM – Get Rating) had its price target raised by Piper Sandler from $249.00 to $283.00 in a research report report published on Friday, The Fly reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley dropped their price target on Atlassian from $460.00 to $430.00 and set an overweight rating for the company in a research report on Monday, July 11th. Mizuho dropped their price target on Atlassian from $500.00 to $360.00 in a research report on Monday, May 16th. KeyCorp dropped their price target on Atlassian from $338.00 to $278.00 and set an overweight rating for the company in a research report on Friday, July 22nd. Cowen decreased their price objective on shares of Atlassian from $285.00 to $245.00 in a research note on Friday, July 22nd. Finally, Cowen decreased their price objective on shares of Atlassian from $285.00 to $245.00 in a research note on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $338.16.

Atlassian Price Performance

Shares of Atlassian stock opened at $268.59 on Friday. Atlassian has a one year low of $159.54 and a one year high of $483.13. The stock’s fifty day moving average is $196.85 and its 200 day moving average is $242.29. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.30.

Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $759.80 million for the quarter, compared to analysts’ expectations of $724.28 million. Atlassian had a negative return on equity of 136.11% and a negative net margin of 21.91%. The business’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities research analysts forecast that Atlassian will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the company. Nvwm LLC grew its holdings in Atlassian by 142.9% in the fourth quarter. Nvwm LLC now owns 85 shares of the technology company’s stock worth $32,000 after purchasing an additional 50 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Atlassian during the first quarter valued at $26,000. Core Alternative Capital grew its holdings in shares of Atlassian by 1,383.3% during the first quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares during the last quarter. CWM LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $35,000. Finally, Addison Advisors LLC grew its holdings in shares of Atlassian by 2,475.0% during the first quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after buying an additional 99 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.

About Atlassian

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.